Car Payment Calculator

Calculate your estimated monthly car payment, loan amount, total interest, total payments, and total vehicle cost. Use this car payment calculator to compare purchase price, down payment, trade-in value, loan term, interest rate, taxes, and fees.

Calculate Car Payment

Monthly Payment = Loan Amount × Monthly Rate ÷ (1 − (1 + Monthly Rate)^−Months).
Your result will appear here.

How the car payment calculator works

Monthly car payment:
Enter car price, down payment, trade-in details, sales tax, fees, loan term, and interest rate to estimate your monthly payment.

Affordable car price:
Enter a target monthly payment to estimate how much car price may fit your payment goal.

Total interest:
The calculator estimates the total finance charge paid across the loan term.

Compare loan term:
Compare your selected loan term with another term to see how the monthly payment and interest may change.

Why use a car payment calculator?

A car payment calculator helps estimate what a vehicle may cost each month before buying or financing.

It can help compare different prices, down payments, trade-in values, loan terms, and interest rates before choosing a vehicle.

What your result means

Your result shows estimated monthly car payment, amount financed, tax and fees, net trade-in value, total loan payments, total interest, total vehicle cost, payment per $1,000 financed, and comparison loan term details. These are estimates based on the values you enter.

Car payment calculator formulas

Frequently asked questions

How do you calculate a car payment?

Use the amount financed, interest rate, and loan term to estimate the monthly payment. This calculator also includes down payment, trade-in value, taxes, and fees.

What affects my monthly car payment?

Car price, down payment, trade-in value, sales tax, fees, loan term, interest rate, and negative equity can all affect the monthly payment.

Does a longer loan term lower my payment?

Usually yes. A longer loan term can lower the monthly payment, but it often increases the total interest paid.

Does a trade-in lower my car payment?

A positive trade-in value can lower the amount financed. If you owe more than the trade-in is worth, negative equity can increase the amount financed.